K-Bro Linen (TSE:KBL) Announces Earnings Results

K-Bro Linen (TSE:KBL) issued its quarterly earnings results on Thursday. The company reported C$1.00 EPS for the quarter, FiscalAI reports. The business had revenue of C$160.05 million for the quarter. K-Bro Linen had a net margin of 3.67% and a return on equity of 7.89%.

K-Bro Linen Trading Up 1.9%

Shares of TSE KBL traded up C$0.77 during trading hours on Friday, hitting C$42.25. The company’s stock had a trading volume of 15,623 shares, compared to its average volume of 15,723. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.87 and a current ratio of 1.85. The stock has a market cap of C$543.59 million, a price-to-earnings ratio of 24.71, a P/E/G ratio of 3.50 and a beta of 1.01. K-Bro Linen has a 12 month low of C$33.61 and a 12 month high of C$48.69. The business has a 50-day simple moving average of C$41.65 and a 200-day simple moving average of C$40.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KBL. National Bank Financial upped their price objective on shares of K-Bro Linen from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Raymond James Financial lifted their target price on shares of K-Bro Linen from C$50.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. TD Securities raised shares of K-Bro Linen to a “strong-buy” rating in a research note on Friday, July 24th. Stifel Nicolaus lifted their price target on K-Bro Linen from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, ATB Cormark Capital Markets boosted their price objective on K-Bro Linen from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$53.50.

About K-Bro Linen

K-Bro Linen Inc is a healthcare and hospitality laundry and linen processor in Canada. It operates in major cities across Canada, and has two distribution centers, providing management services and laundry processing of hospitality, healthcare, and specialty linens. The company provides vital products and services that help people heal, travel, live, and play. It helps hospitals and extended care centers care for the young, old, and vulnerable in environmentally responsible ways. It operates through two divisions, which are the Canadian division and the United Kingdom division.